Malaysia agrees to implement global minimum tax on MNCs

Malaysia is among 136 countires announced as being ready to undertake reform in the global taxation system.

He said Malaysia is among 136 countires announced by the Organisation for Economic Co-operation and Development previously as being ready to undertake reform in the global taxation system.

He said the implementation of the tax system is to make sure business entities pay their taxes fairly to the host countries and avoid tax leakages. "Under the IRB Multinational Tax Branch, there are close to 3,000 MNCs under its monitoring. For local companies, not many. Not all use transfer pricing but we monitor closely.

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